Story Highlights

• Sevenoaks had total property sales of £1.04 billions in 2016
• The total number of properties sold in 2016 was 1,982
• The average sales price  was £525 K, whereas the median was £373 K
• New Property sales were 7.59% by value, whereas Not New Property contributed 92.41%
• Stamp duty changes caused monthly spike in March
• Brexit coupled with Stamp Duty changes did not have negative impact, there was robust growth of 12.8%

Sevenoaks is one of the districts of Kent.

Total Sales By Property Type

Sevenoaks had total property sales of £1.04 billions which was 11.15% of the total Kent Property Market 2016

The split £1.04 billions across the different property types are:

• Detached £398 millions (38.32%)
• Semi-Detached £207 millions (19.95%)
• Terraced £198 millions (19.05%)
• Other £140 millions (13.48%)
• Flat/Maisonette £96 millions (9.19%)

Sevenoaks Property Market at Postcode Level

Month-wise Break-up of Total Sales 

 Some of the insights based on the £1.04 billions month-wise break-down :

Stamp Duty Hike Impact

1. March had property sale spike of £124 millions compared to £73 millions in Feb
2. The impetus for it was to avoid the extra 3% in Stamp Duty Tax applicable on buying an additional home, being applicable from April 1 2016

Brexit Impact

1. Brexit took place on 23rd June 2016.
2. Year on Year growth  has been 12.8% in 2016 over 2015
3. Brexit coupled with Stamp Duty Hike did not have negative impact on Sevenoaks Property Market in 2016

Total No Of Properties Sold By Property Type 

 Sevenoaks had total property sales of 1,982.  The split across different property types are:

• Terraced 569 (28.71%)
• Semi-Detached 505 (25.48%)
• Detached 486 (24.52%)
• Flat/Maisonette 337 (17%)
• Other 85 (4.29%)

Average & Median Sales Price 

  The average sales price in Sevenoaks was £525 K and for different property types it was:

• Detached £820 K
• Semi-Detached £411 K
• Terraced £348 K
• Flat/Maisonette £283 K
• Other it is £1.65 millions

Similarly median sales price in Sevenoaks was £373 K and for different property types are:

• Detached £700 K
• Semi-Detached £375 K
• Terraced £310 K
• Flat/Maisonette £243 K
• Other it is £335 K

New Vs Not New Property Statistics 

 By Sales Value the split is as follows:

• New Property contributed £79 millions (7.59%)
• Not New Property contributed £961 millions (92.41%)

By Total Number the split is as follows:

• New properties sold were 186 (9.38%)
• Not new property sold were 1,796 (90.62%)

 All Kent Posts